FixedFloat: ETH Optimism Available for Exchange
FixedFloat added a new currency to its list of exchangeable currencies this week. Users can now make exchanges with the ETH Optimism token. Optimism is a Layer 2 (L2) solution designed to improve the speed and scalability of the Ethereum network. The system is capable of processing 200 to 2,000 transactions per second, which significantly improves performance compared to the main network.
Ethereum to Bitcoin Rate Hits Three-Year Low
The Ethereum (ETH) to Bitcoin (BTC) exchange rate has hit a new low in 3.5 years, falling to 0.036 for the first time since April 2021, according to TradingView. Since the start of 2024, the leading altcoin has lost 30.5% of its value against the leading cryptocurrency.
At the same time, Bitcoin's market share reversed course on October 25, reaching 59%, the highest level in the same period. After reaching an all-time high of around $69,000 on March 14, 2021, BTC's dominance has sharply declined.
ETH/BTC lows and Bitcoin dominance records may indicate a decline in interest in alternative cryptocurrencies. Since 2017, the market has shown cyclical fluctuations between periods of Bitcoin and altcoin dominance.
Ripple CEO Predicts Cryptocurrency "Reset"
Ripple Labs CEO Brad Garlinghouse has criticized the US presidential administration's cryptocurrency policies. He noted that regardless of the outcome of the upcoming presidential election, the crypto market has a brighter future, as reported by CoinDesk. According to Garlinghouse, the new appointments will determine the market's direction for the next four years. He is also confident that any changes will be more positive than the current situation.
Bitcoin Mining Difficulty Max Updated
The latest recalculation saw Bitcoin mining difficulty increase by 3.94%, reaching a record high of 95.67 T. The average hashrate since the previous update was 688.3 EH/s, and the block interval was almost the same as the algorithm's 10-minute interval. According to Glassnode, the smoothed 7-day moving average of network hashrate peaked at 723.4 EH/s on October 21, before declining slightly to 713 EH/s.
Avalanche Launches Its Visa Card
Avalanche Foundation, the developer of the Avalanche cryptocurrency platform, has teamed up with Rain Liquidity to introduce an innovative Visa payment card powered by the blockchain. The card allows you to spend tokens such as USDC, Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and more directly from non-custodial wallets anywhere Visa payments are accepted. Avalanche Card is available in physical and virtual formats. While there is no fee for spending, there are other fees. The card can instantly convert cryptocurrency to fiat, as well as earn cashback and potential rewards. The first jurisdictions to be available include Latin America and the Caribbean.
MetaMask and Space ID Simplify Cryptocurrency Transactions
SPACE ID protocol and MetaMask wallet have announced a new partnership aimed at simplifying the process of transferring digital assets and accessing cryptocurrency wallets.
As part of this collaboration, it is planned to launch SPACE ID Web3 Domain Snap, which will allow replacing the standard public wallet address with a convenient, secure and individually customizable domain. This service is compatible with all networks that support EVM. To activate it, users will need to install the solution through modular extensions in the MetaMask wallet.
Christian Montoya, MetaMask's head of product, emphasized that the integration of SPACE ID will significantly simplify and secure the process of sending and receiving cryptocurrency. SPACE ID is already actively cooperating with such major players as Binance Web3 Wallet, OKX Wallet, SafePal and many others.
